Tax and Financial Planning

In the recent Budget, the Government committed itself to a review of the operation of trust taxation in the UK. Since reforms were introduced in 2006 to counter what...

Under Inheritance Tax (IHT) law, certain types of trust have a ten-yearly charge to IHT on the value of the trust assets. The legislation, which imposes IHT of 6 per...

Anyone tempted to participate in a tax avoidance scheme would be wise to take note of one case in which a businessman complained in vain that he had been subject...

HM Revenue and Customs (HMRC) have challenged a number of property-based trading businesses, seeking to deprive them of the Inheritance Tax (IHT) and Capital Gains Tax advantages that are normally...

Mis-selling of interest rate hedging products (IRHPs) by lenders has caused acute financial pain to a great many businesses and individuals and, as one High Court case shows, you should...

According to the Government’s GOV.UK website, if you are a company director, you have to file a tax return every year. It says that every UK company director must send...

With an increasingly peripatetic workforce, more and more people are finding that the issue of their fiscal residence has a significant effect on their tax position. The response to...

Giving away your assets to the next generation before your death can be an effective means of minimising Inheritance Tax (IHT) liabilities. However, as one tribunal case showed, such gifts...

A property owner who demolishes an existing dwelling house and replaces it with an entirely new one is entitled to reclaim VAT on the costs of construction – but what...

There have always been wolves in sheep’s clothing ready to take unfair advantage of private investors and they can be difficult to spot without professional advice. In one case, a...